Another Huge Retailer Closing Stores in Washington State, Oregon
It is becoming an unfortunate, yet familiar refrain. Another major retailer has announced they will be closing stores in metropolitan areas due to crime.
Mind you, this isn't happening all around the Country, it is happening over and over again in the same areas. Eight of the nine stores this retailer has said they will close are on the West Coast.
Violence and Theft are the Main Reasons
Target operates roughly 2,000 stores in the U.S. They announced yesterday they are shutting down the nine stores because violence and theft are creating unsafe conditions for customers and employees as well as making it difficult to do business.
Roughly four months ago, Target CEO Brian Cornell said the company expected to see organized retail theft losses to increase by half a billion dollars this year. That isn't sustainable for the biggest of businesses.
In What Areas Will Target Close Stores?
It shouldn't come as a surprise that three of the stores shutting down are in the San Francisco-Oakland CA area. The company said they will continue to operate 32 other stores that are in that market.
Another three stores will close in Portland, OR. Portland may have the largest list of retail giants leaving the city. Walmart, Nike, REI, Cracker Barrel, and Green Zebra are some of the most notable business calling it quits in the Rose City. Over 2,600 businesses have filed for a change of address from Portland.
The stores that are closing are:
- Portland Galleria: 939 SW Morrison St
- Portland Powell: 3031 SE Powell Blvd
- Portland Hollywood: 4030 NE Halsey St
Target will continue to operate the 15 remaining stores in the area.
Last but not least, a pair of stores will close in Seattle. $2.7 billion in losses due to retail theft was reported in Washington State last year, with the Emerald City slotting in as the 8th highest in the nation for organized retail theft.
The stores that will cease operation in Seattle are:
- Seattle University Way: 4535 University Way NE
- Seattle Ballard: 1448 NW Market St, Ste 100
22 stores will remain open in the area. Target also announced they will offer the affected employees relocation option to other stores and they will continue to invest in the remaining stores in attempts to combat theft and organized retail crime.
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